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tv   Markets Now  FOX Business  January 29, 2014 11:00am-1:01pm EST

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to fade little bit. stuart: it is bling and you know it and you are out of time. connell: i love when you say bling. good for charles. the president says checks are not enough for retirees so he is rolling out something called my are a. we will talk about what it means and is this the answer that we need? the wicked weather swings into an and prepared south, people sleeping in their cars, in buses for local government that does not have the equipment to deal with a situation like that and cyberspeed, the u.s. ranks far behind the far east when it comes to how fast the internet works. tomorrow's business today using your heart be to manage the security of your house card computer. that is all coming up on markets now. ♪ dagen: good morning. connell: this is some market.
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dagen: the fear is coming back originating in turkey about emerging markets in general that they will take a tumble and take the world with them. nicole petallides is at the stock exchange with more. nicole: absolutely right. when you talk about emerging markets we are watching turkey and other economies and watching currencies as well. i was reading headlines a short time ago about policymakers knew that emerging-market could be the wild card in a worrisome part of the market and that is what we are seeing. the dow is down 107 points, not a terrible day but a down arrow day down 1/2% and earnings of come out and we have given guidance for many of these companies that seem to be a little light, and that is weighing on the dow jones industrial average. the major average sitting on technical support levels, that is another factor and i won't leave out fit day. today is the day policymakers give their latest ideas so we
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will see what the federal market committee comes up with and whether they could continue their capering plan. connell: the next conversation about the economy. we will begin with president obama's state of the union address last night, vowing to act without congress. lot of talk of executive orders. the president unveiled a new kind of retirement account. >> i will direct the treasury to create a new way for working americans to start their retirement savings. my ra. it is a new savings model that encourages folks to build a nest egg. my ra guarantees a decent return with no risk of losing what you put in and if this congress wants to help, work with me to fix an upside-down tax code that gives big tax breaks to help the wealthy save the double or nothing for middle-class americans.
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connell: the former director of the white house office of management and budget under president clinton joins us from washington d.c.. i said we had a few things to talk about. let me begin where the president was talking about my ras as they're called. do you understand this and what the goal is? there has been some discussion inside the white house, wasn't clear if it was pretax or post tax or who they're trying to help. what do you make of the idea? >> i think they are trying to help people save more and it is a kind of starter savings account, a bond, a treasury bond so the principal is guaranteed, but the idea is sort of like the world war ii savings bonds, everybody took payroll deductions, the president will go out and try to get businesses to try to offer a payroll
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deduction for saving in these accounts and the idea is to get first-time savers, workers who are not saving now, and in the low to moderate end of the income distribution, it wouldn't be available to very high earners and if they save enough over the years it would roll into a privately managed accounts and that seems to me a good idea. connell: will it have a discernible effect or a minor situation as far as you see it? a big affect? >> anything we can do to get americans, especially working americans saving more over the long run is a good thing. the baby boom generation did not save enough for retirement. we know that now.
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they took risks, their houses lost value, many lost jobs, they didn't save enough. turning this around and encouraging younger savers to get into the habit of saving seems like a good thing. connell: let me ask about a couple of other issues that have to do with the economy and financial markets which dagen mcdowell mentioned, turkey, stock market is down in the u.s. but first federal reserve in a meeting this afternoon, tapering expected to continue, $65 billion a month in terms of this bond buying program down from 85, now 75, pablo going in the, quote, right direction at the federal reserve? >> i think we are. the economy is not roaring but it is strong enough and eventually they had to taper off and i think they're doing it the right way. at the last meeting the thing to do is start now but start small and that is what they did.
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connell: turkey raises rates and last night if you are looking at the stock market as an indicator of futures, that is the reaction, then weighed down and people, it is a stop gap. are there bigger problems than we know about not only in turkey but other overseas markets and emerging markets? are you worried about what is happening of late? what do you think will happen next? >> not an interpreter of volatile markets and we certainly got those at the moment. i am not terribly worried. i think the u.s. economy is showing signs of strength, we just need to keep going and i am not one who thinks the apocalypse is around the corner. stuart: that is a good thing. connell: nice to see you, covered a lot of ground with this so thanks very much.
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>> thank you. dagen: more crazy winter weather but this time it is hitting the southeast with atlanta at taking the biggest hit, the georgia national guard is helping passengers stranded overnight in school buses full of children. connell: in atlanta, fox 5 is covering the details. >> what a mess this has been ended started yesterday afternoon around one:00. we were predicting this snow that was supposed to come to the area all morning. people go ahead and cancel school. atlanta is a city in the deep south equipped to handle, don't have the proper amount of salt, salt trucks scandal these situations. when the snow began to fall it seemed everyone in the metro area reacted at the same time. we have all the school system's letting children out of school, kids out of school, everyone leaving the work place and this created a traffic gridlock situation the likes of which i have never seen in my entire
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life. we talked to and an earlier today who left his office in downtown atlanta yesterday afternoon, he is still not home. we have stranded cars all over the interstate call over this area, people did to their cars and walked home, people spend their nights in home depot stores, kids spend the night in their high school gymnasiums, a gridlock situation and with temperatures in atlanta back in the teens it is far from over. connell: thanks, it is a real mess. dagen: i saw that pistons game with the hawks. connell: not ready for it and not used to it. dagen: people go out and get stranded. sticking with the leather, the mets, snowy and icy conditions resulting in flight cancellations, school and business closings, worst of all sheer chaos on the road. connell: we continue with fox
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news in montgomery, alabama. >> as you can see there is plenty of ice and snow on the roads, traffic is picking up as the sun comes out but with the temperatures still below freezing it could be well into for thursday before these roads become saved drive on, local officials urging people to stay at home. dealing with a serious winter storm in the south is like dealing with a hurricane in the northeast. a type of natural disaster you simply are not used to in the region and don't have the equipment to deal with. look at this video from the i 85 i 65 interchange in montgomery where we saw a jackknifed trucks, roads and bridges are sick, city and county crews are out trying to clear them as best as they can. take a listen. >> it happened so infrequently here we don't have any deicing, we don't have salt or chemicals
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we can put on the road so we are left to be in a situation where all we can do is send a bridges, get traction established and make it somewhat possible so that people can use them. >> take a look at these pictures out of atlanta. early tuesday rush hour turned into an overnight ordeal for many motorists although forecasters predicted the possibility of snow, local officials say they didn't realize the snow would come so far north and the storm would arrive so quickly sell most schools remained in session on tuesday, people went to work and when the snow did start falling in heavy amounts midday everyone tried to head home at the same time. even at this hour there are people stranded in their cars so if you can imagine there's a lot of finger pointing going on in the atlanta area. at news conference moments ago atlanta's mayor said the lesson learned through this is there needs to be going forward staggered release times for schools, businesses and
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government offices in the next winter storm. i would like to show you a live remote from our photographer jeff burton, these pictures coming live from i 85 between atlanta and the alabama line in rural georgia. there is very little traffic on this highway. what traffic is there is moving slowly. when you look at the high way you can see there's plenty of ice on the road and that is why officials in georgia and alabama are telling folks if they don't absolutely have to be out of the house to stay at home. it is the safest thing to do. dagen: thank you for that. one problem is people drive suvs and think they will be ok in icy conditions on the road with other automobiles. you see it here. connell: see it all the time. dagen: people speeding in suvs, this car is harder to stop because it weighs more. connell: all the time people do
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that. in this case they don't have the equipment to deal with it. or real mess for people. we will talk in a moment about getting wired. turns out united states is seriously behind other countries when it comes to how fast our internet works. dagen: the key is in your heart. not talking about love and romance but security. your car, your bank account information, your home could all be programmed to be secure based on your heartbeat. kind of cool. connell: should college football players be unionized? the n.c.a.a. says the kids are not employees, players said they are the moneymakers, they are not protected. a good conversation coming up with the judge. markets now continues. what super poligrip does for me is it keeps the food out.
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before those little pieces would get in between my dentures and my gum and it was uncomfortable. [ male announcer ] just a few dabs is clinically proven to seal out more food particles. [ corrine ] super poligrip is part of my life now.
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connell: this time yesterday, apple was getting crushed after earnings but now it is yahoo! that is all the rage in the tech
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world. >> melissa meyer comes on board, we have seen yahoo! doing well over the last 52 weeks, almost 100%. right now different picture, down 7%. analysts are jumping on board and cutting yahoo! came out with their nerall revenue fell 6%. the other big concern is ali baba which yahoo! has a stake in, dropping revenue growth as well. saying that they could be losing their competitive edge, cooling revenue growth raised questions so that is what analysts have been talking about. besides the fact they had to repurchase $3 billion worth over the last 52 weeks yahoo! continues to face intense competition with google, facebook and the like for ad revenue. that is the other part of this and a lot has to do with that revenue and a lot has to do with moving to mobile where it is cheaper. dagen: you think the internet
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here is slow? it is. head over to asia if you want the fastest internet speed. web services provider on global internet speed has hong kong topping the list in average speed of 65 megabits per second followed by south korea, japan and singapore. those four have average speeds three time the global average of 17 megabits a second. the united states didn't even make the top ten coming in 13st place and if you have sprint you got no speed because there is no data on the service ever. will not ever but -- connell: it transmission from internet speeds too hot sauce which you would expect. a new report from euro monitor that says hot sauce is beating the competition by a landslide. over the past 13 years, the u.s. hot sauce market -- is up 150%. that is more than barbeque sauce, ketchup or mustard, more
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than all three combines. its closest rival would be mayonnaise and it is shy of 50% over the last decade. the report cites rising immigration. that is interesting and growing popularity of hot wings. a key driver of the trend as well. dagen: in that graphic, tabasco, and some raja, what is your pick? connell: i don't have our favorite hot sauce. and won't lie to you. dagen: frank is pretty big. heine's $0.50 conlan and mayonnaise, i am on many as girl. connell: good talk. dagen: we all complain about too many passwords in our lives. one company is taking those complaints to heart literally, the future of your identity protection. connell: the n.c.a.a. could have a problem with these college
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players looking to unionize. the judge is coming up and i am sure he will be fired up about it. currencies look at a problem in these markets. recently. emerging currencies. we will be back with more on markets now.
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>> 23 minutes past the hour this is your fox news minute. defense secretary check hegel holding a meeting with top nuclear officials after dozens more officers were implicated in an investigation of cheating on missile launch proficiency test. the number nearly doubled from the original 34 officers. meanwhile a royal caribbean cruise ship is cutting short a 10 day trip after 600 passengers and crew members all became ill with stomach problems. the ship's medical team says the problem appears to be normal virus. that should scheduled to ride in new jersey this afternoon. talk about an amazing story. the 16-year-old girl survived
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after falling more than 3,000 feet to the ground in the sky diving accident. a family of mackenzie whetherington said the primary parrot shoe didn't open but despite multiple injuries she is in good condition. an amazing story. those are your news headlines on the fox business network. jamie colby sending you to dagen mcdowell and connell mcshane. dagen: let's make some money with charles payne, looking get gambling games. connell: a lot of people talking about gambling, resort and casino industry. charles: looking at las vegas, a lot of these macau related companies and come down with the chinese stock market pulled back and this is the one i like. they are neck and neck. i like them a lot. there is a pullback, an opportunity. they report tomorrow so obviously there's kind anxiety but also i got to tell you estimates are moving hire very
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rapidly. everything looks like they should be, then a gap opens and you chase it but you also have this migration thing going with the lunar new year so over a one week period the population probably will sell 300%, they were talking about holding people back from coming in cell i think this is an amazing story with a lot of legs. dagen: what about the business outlook and las vegas? charles: it is a little bit better. some of the data in november and december were not bad for vegas so that could be a wild card if you will, sort of a cherry on top if all goes well. connell: if reports about floyd may weather are right he is personally boosting. charles: he always tweets his winnings, 60 grand and win but we don't hear from him. you didn't make any bets. connell: that is exactly right.
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a lot of people like that. connell: when i watch jeopardy. connell: i try to post the answers on twitter. i challenge bill hemmer because he told me a year ago he was better than me but i have not heard from him. dagen: why are you not on celebrity jeopardy? connell: look it up. charles: i really rock. i am pretty good. dagen: i am going to check you out. charles: say good bye. connell: from that to the new wristband that uses your heart beat, smart phones and all things in your life, chief executive officer behind that technology is standing by. dagen: some college athletes are taking steps to unionize. not just about money, as they pay to play argument growing louder, what about this safety? another reason, isn't it? judge andrew napolitano will
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join us. we asked people a question, how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to agin how much we'll need for a retirement that could last 3years or mor
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so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪
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dagen: at the half-hour, here is what is coming up on markets now. the effort to unionize college football players. it is getting serious. who has the better argument, the ncaa or the players?
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we look at the succession question at that automaker. connell: at&t is getting a new week low today. nicole: it is a cash flow mess overall. the stock right now is down 1.6%. the free cash flow target lagged behind the wall street analysts estimate. also subscriber growth. also that came under some scrutiny. the u.s. buying scandal hurt their business as well. price war brewing with the other guys. they do face competition. here is a longer chart. the low that we are hitting today really dates back to the summer of 2012.
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other new lows would be ralph lauren, mcdonald's, some of those names hitting lows today. dagen: the overall market looking a lot more stable than it was even a half hour ago. the amount of identity authentication needed these days is overwhelming. karl barth and is the founder and ceo of this company. just describe how it works. it involves a wristband and your heartbeat to protect your most valuable information. >> exactly. a wristband that uses your cardiac rhythm as a biometric
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like a fingerprint or your face. it knows that it is you and you can completely forget about it. password and hands are completely gone. dagen: first and foremost, they say their information with your fingerprint. some people have a hangup about it. i do not. some people probably will not do. >> certainly, it is something new. we are asking people, would you wear this. part of our value proposition is saying it is not about security. it is about new kind of experiences. it is not just about security. it is new kind of experiences.
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we are asking people if they would be interested in that. dagen: you need adoption. what kind of response are you getting from those businesses? >> the response has been great. erest that we are now focusing on is airlines and travel. automotive is another area. the big one, of course, is payments. dagen: what about if someone else puts the band on? it just doesn't work, right? >> exactly. the universal key has to be extremely secure. it really only works for you.
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if you lose it, you have lost a piece of hardware, but not your identity or your keys. dagen: what do you say to people who say it is sort of an invasion of their parts, if you will? >> privacy is a top concern for us. we are regular people. the way the system has been designed is it is completely opt in for every third party device. they do not know who you are. if it's all the control with the user. dagen: where are you in terms of fundraising. >> we have raised money in the
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past. we are in the middle of fundraising right now. in terms of long-term, certainly ipo is the kind of long-term play we are going four. it is a huge area. a lot of interest in banking. it certainly helps that we are raising money. dagen: please come back. keep us up-to-date on your progress. phoebe and other look at tomorrow's business. the wearable book.
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the best tracks the story. it automatically triggers functions. localized temperature changes, even compression. the book itself is covered in over 100 led lights. you read the book and kind of feel it. dagen: i read two pages and i am out. these are college football players looking to unionize with the support of organizations. the ncaa not happy. judge andrew napolitano not happy either. he has a legal argument on both sides of it. connell: people complaining about the cold new york super
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bowl. guess what, it is called everywhere. ♪ welcome back. how is everything? there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex.
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>> i am sandra smith with your fox business brief.
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eric holder confirming the justice department is investigating the massive target data breach. working to find not only the perpetrators, but anyone exploiting that data via credit card fraud. boeing still says it expects to deliver at least 715 commercial aircraft in 2014 beating washers record of 648. dow chemical is tripling its stock to $4.5 billion. the largest chemical maker beat fourth-quarter revenues. that is the latest from the fox business network. giving you the power to prosper. ♪ ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪
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it's so close to the options floor... [ indistinct shouting, bell dinging ]'ll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ ♪ [ male announcer ] a car that is ae to see, to calculate, to think -- and can respond to what it encounters. ♪ even if that means completely stopping itself. it's the stuff of science fiction... minus the fiction. the 2014 e-class. see youauthorized dealer for exceptional offers through mercedes-benz financial services. connell: we love this story. guaranteed to be an interesting conversation. dagen: this is interesting. you better wake up.
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connell: northwestern university, the quarterback in the steelworkers union get together. plans to form the first labor union for college athletes. dagen: the ncaa none to please. what does andrew napolitano have to say about this. >> it is actually kind of interesting. student athletes have not been employees. the question is, will the nlrb
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caught with a book at this in the first instance, conclude that student athletes are employees of the universities which they attend. it would revolutionize college sports. connell: this is not necessarily about getting paid. they mentioned protection from injuries. if they did identify them as employees -- >> the income would be extraordinaire. >> they are very literal. dagen: much more liberal than it was. >> the nlrb traditionally manifests the values of the president.
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this nlrb, which has two interim appointments, nevertheless, is filled with liberal democrats who were labor unionists. i do not think they should. back when i was in college, when television was black and white. you could play in a varsity sport and put some money to the bottom line of the university. dagen: it is about safety.
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>> a college student injured because of inadequate protection and let's say football would cost that college an extraordinary amount. the state of illinois protecting this. connell: it is not really a story. if you think about it, it seems kind of weird. >> they will call you as a witness. connell: they are making money.
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>> a great basketball coach is a friend and former client of mine. infinitely happier now coaching a college team. in large measure because you do not have these overplayed, overpaid players. it is not about money. it is just about winning and the development of the sport and the team. dagen: you think that it is fair that these colleges bring in this amount of money and they use their licenses and sell memorabilia. >> it would be on there if the athletes were playing against their will. they choose to do this.
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connell: did i not tell you it would be interesting. after i made my little announcement, i think i am more on the side, then i used to be, of the players. >> i will suggest to you this, a story that will be over today. whichever way it goes, somebody will appeal. it cannot end in the first instance. something tells me money will get involved. connell: of course. dagen: big news out of the auto industry today. fiat cry sleep releasing its quarterly earnings. jeff: just got off the line with sergio markey only. it could take place as early as
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october of this year. pretty exciting stuff. take a look at the auto stocks. down a bit today. here is the new logo that i want to show you. some people a little disappointed at the logo. it is fca. big letters. fca. designed by a company in italy. a lot of people think it is kind of stupid looking. i am told they symbolize the square. sergio talking about earnings.
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$1.3 billion the total. they would have fiat without chrysler, lost $600 million. you could say after chrysler was paid by fiat, fiat is now being saved by chrysler. i question whether anyone would run my job. he committed to another three years on the job. when he does leave, it will be somebody from within the company not without. where is the corporate headquarters now? we have a company incorporated in the netherlands. the taxol is the uk. dagen: love it. love you more.
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jeff flock. thank you. connell: jeff flock has been talking all week about how cold the weather is. right now it is 34 degrees in new orleans. that is where the super bowl was held last year. dagen: we will do some super bowl whether comparisons. you are looking live at super bowl boulevard. let's just call it times square. a bunch of fools who work for the media who are out in the cold in the middle of, well, new york. that is what you are looking at. ♪ ♪
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be very different weather talk here. the low on sunday is expected to be 26 degrees.
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and lot of people complaining. first the stadiums. seattle and denver. charlotte and nashville the lowest. how about new orleans. superdome, of course, close to the elements. a low of 30. houston will host the big game in 2017. just for fun, to places that will probably never see soldier field in chicago, a low of degrees and lambeau field negative three on sunday. dagen: it would probably -- connell: exactly. how long will this deep freeze last over parts of this country?
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>> to your point, we are seeing some snow. if the super bowl was held in any of the cities, it would be rough weather. there is a warm-up expected in the next couple of days. we had the freezing rain. it is finally coming to an end. take a look at some of these totals. in virginia, 6 inches of snow. a half a foot of snow. in north carolina, that particular city saw 5 inches of snow. incredible stuff. you can see across northern portions of georgia, 2.6 inches. you have heard the story of children being on buses during late hours yesterday.
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even into the early overnight. take a look at the forecast here. above average. on sunday, you are talking highs into the 60s. right now it is very cold. we are talking 22 degrees in atlanta. teams in nashville. back to you. connell: thank you. dagen: totally insane. let's look at atlanta. frozen. the world's busiest airport shut down. how it could impact travel nationwide today. connell: president obama says he will bypass congress to help the american people. that is next. ♪ let's share the news tomorrow. today we failrly busy. tomorrow we're booked soli we close on the house tomorrow. i want one of these opened up. because tomorow we go live...
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it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves.
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>> wherever i can take steps to
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expand opportunity for more families, i will do it. with or without congress. dennis: i am dennis kneale here with cheryl casone to take you through the next hour of "market now." why should government compete with the banks. stocks jittery. will the fed rethink another taper. still stranded in atlanta. ice and snow crippling the southeast. it could slow down air travel all around the country for days. all of this and more ahead on markets now. ♪ dennis: suddenly we have decided it means that u.s. stocks are worth a lot less money. cheryl: that acts have been so interesting today.
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this had a lot of reasons to sell over the last couple of sessions. let's bring in nicole petallides from the new york stock exchange. despite central banks around the world. nicole: policymakers knew that was an issue. let's start off with our market. home. off the lows of the day. still a lot of down arrows. the nasdaq down two tenths of a percent. this is not a horrendous selling day. we are watching the vix. there is obviously a lot of
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worries here on wall street. emerging markets have been front and center. we have been watching turkey. we have been watching south africa. many of the big companies have been given tepid outlooks. there really is a lot going on here on wall street today. cheryl: thank you very much. we will see you in a little bit. dennis: introducing my ra. there will be an executive order to get to this.
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new roth style ira accounts. they are limited to households earning up to $191,000. providing an old proposal to limit tax breaks for wealthier americans including retirement tax preferences. the top rate you could take would be 28%. also limit the size of retirement accounts to $3.2 million. this after the president gave a speech at costco in maryland. >> while congress decides it will raise the minimum wage or not, people outside of washington are not waiting for congress and i am not either. i will lead by example.
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dennis: thank you very much. how convincing was the president with his plan for the nation last night? front page of the journal, inequality has deepened, upward mobility has stalled. the president, they always give a state of the union speech. if we were going to have a year of action in 2014, what republicans are looking for is and all of france from the president that says i will tone down the politics.
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i will work with you on some of the major opportunities that we have out there. i am afraid that 2014 will be a year will be congress and the white house struggling. not a lot of things will happen. dennis: last night the president told the congress to their face. he got a standing ovation from some democrats. why would they like the idea of the president ignoring democrats and congress? >> because it is the only way to get things done right now in washington, d.c. i think it would be a lot better. unfortunately, this is an election year. the president spoke about what he could actually do, not just
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say. that involves executive action. i think you will see him operating more through executive order. i do think the one area where there may be some possibility of getting something done would be the area of immigration reform. whether to accept some sort of compromise or say that as a political issue for the fall. that is one area where they do have some common ground. dennis: lately they have been making a lot of parallel over contrast. a guy who really succeeded the art of persuasion. >> i do -- i am pessimistic.
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they are always kind of perplexed when i tell them that the best president that i serve within my 18 years in the house of representatives was bill clinton. they kind of look at me. bill clinton and new ingrates can't be exacted of branch, we knew how to get to it. the bottom line is, we did not benefit, america benefited. dennis: congress, it is a mess. do you think congress is that broke into where you do not even bother trying to compromise with the other side?
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in that kind of environment, you have to extend a hand. some of his partisan fever will be broken. people can sit down and work together in good faith. cheryl: crushing unprepared communities.
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school buses full of children. fox five atlanta reporter is in the chaos. how are things now? >> and national guard is out there delivering food, water, they are pulling school buses literally off the side of the road. big deal. atlanta does not really have the equipment to sand the roads properly. our last big snow storm -- the other problem was the time of day where this happened. it happened in the middle of the day. kids were at school. it seemed everyone left at about
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the same time which created a gridlock situation in atlanta. this is a town that has seen our share of traffic. we are talking about people seeking shelter wherever they can find. spending the night at home depot stores. spending the night at waffle houses. kids spending the night in the gymnasium of their school. this is a store that we will continue for another 24 hours in the area. cheryl: we want to continue our coverage and show you exactly what is happening in atlanta.
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many of the major airline hubs are located in the south as well as, yes, the world busiest airport. it seems to me that atlanta was not the airport prepared for this type of storm. how is that possible? we have seen a lot more worse storms in january. it is the world's busiest airport.
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now you have to give flight crews and flight attendants and mechanics and everybody from their homes to the airport and vice versa. you get passengers arriving in charlotte, north carolina: new orleans. once they get off the plane, where do you go if you can't get there. cheryl: this is one of those stories where i think this will end up in a quarter loss somewhere. the busiest airport in the nation unprepared. they do not have enough deicing fluid. they are not prepared for this type of storm. if this was jfk, we would not be having this conversation. the major airlines, they are dealing with thousands of cancellations. does this become a bigger story down the road for airline to have revenue issues to deal with? >> delta will make about a billion plus dollars this year. i think they can buy more than four deicer's for that airport.
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they still do not have the proper chemicals to get the salt, ice or snow. i think this is a learning lesson. overall, 24, 48 hours, once he gets above freezing, that airport will be back to normal. it will be moving right along. let's talk about the airline specifically. if you look at atlanta, the reason it is such a big story is you have delta, airtran both are held and based out of atlanta.
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even charlotte. they have u.s. air. houston is a huge hub. united airlines. that is also dealing with a massive amount of ice. it seems like this storm has hit the airlines in the most vulnerable spot that they have. >> i think that you talked about this last week. twenty-two flights canceled in the last 22 years. this year it will exceed over 40,000 flights. double the number we have had in two years. it has been -- i live in dallas-fort worth. we have the same thing happen in december. cheryl: they did not leave their home for about 48 hours.
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we should say you are known as the godfather of budget travel. you are wearing your blog today. i appreciate that. >> it is 37 degrees here. cheryl: thank you. good to see you. dennis: we have a triple digit time in the dow. the fed decision coming up. cheryl: we are watching shares of yahoo!. the stock falling substantially today. ♪ [ doctor ] and in a inical trial versus litor, crestor got more high-risk patient bad cholesterol
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six i want to put your attention to the dow 30 right now. we are heading into triple digit losses for the dow. i wanted to show you one of the story stocks i got for you.
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the impact, as you can see, 46 points. the conference call is going on right now. the sequestration issue, they fully have not realized or really figured out the impact of sequestration on the bottom line for boeing. eighteen-24 months before they can figure that out. this has been one of the big reasons that the company has been doing so much. it is a big piece of this. you are looking at dow chemicals. nicole: numbers in the latest quarter, not only do they beat the streets, but they now have a dividend hike and extending the
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buyback. up 3.6%. the best is yet to come for dow chemicals. one of the analysts saying $3.5 billion. the recipe here seems to be great for dow chemicals thus far. cheryl: earnings earnings earnings. thank you. we will see you at the bottom of the hour. hong kong reaching a speed of 65 megabits per second. those four have average speeds of three times the global average of three times megabits per second. give me a break, we are a lot further than that.
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cheryl: we continue to watch the weather that is ripping through the city of atlanta. they are digging out after the snowstorm shut down the city. dennis: less than two hours away from that much anticipated federal reserve decision. a preview from washington coming up. ♪ what super poligrip does for me is it keeps the food out.
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dennis: bernanke's swan song. the fed chairman wrapping up his last meeting. ninety minutes until his final statement. peter: the fed should be on cruise control today. despite the mixed economic indicators recently. economists expect a smooth policy handoff between bernanke and his successor janet yelling at the end of the two-day policy meeting this afternoon and just 90 minutes or so. it is reducing the monthly quantitative easing bond purchases by another $10 billion. taking them down to 65 billion a month. it would start tapering qe in
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december. analysts are debating whether the taper is good or bad for markets. the feds free ride with easy money is over. >> markets are normalizing. that means we give volatility. we get paula fax. we get consolidation. that is normal. last year was the major give me by the fed. it created this bizarre feeling that the fed, basically, leads the markets. peter: they have promised to keep it at near zero for a lot longer. that should help keep rates on car loans, credit cards and
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business loans low for a lot longer. thank you very much, peter barnes. dennis: it is time to make some money with charles payne. charles: i agree with peter. i do believe that they've been they have waited. i think you saw an opportunity to say, we did a great job. we have hit the bottom. why not take a big relapse. the unemployment numbers have been ugly since then. did you guys move too quickly. sometime in 2012, you have to be
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mindful of emerging markets. i am not sure the fed realized when they started doing this that money would flee overseas markets and make those governments a little wobbly over there. charles: his focus has always been on the great depression. i think this time will be different. i think most of them have enough reserves to weather the storm. dennis: emerging markets will continue through the perspective.
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charles: for me, a couple of parameters on the downside. we did not break them. this is what you want to see, consolidation of of insubordinate numbers. some news, the catalysts start buying. dennis: thank you very much, charles payne. cheryl: the deep south is feeling a deep freeze as snow and ice stranded motorists. we are finding out what is happening in the south. >> this is a mess like i have never seen. the snow move through, not a lot of snow. they only have 30 trucks to
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spread any kind of treatment out onto the road. you cannot get that snow melted in any kind of fashion. everything got out at one time. there is bad traffic on a regular day. it is causing big problems. go down towards dallas, 3.5. the prize, mississippi, three. two and a half inches is at the airport. now you have cold air settled in. we have six hours left of daylight. we will see the temperatures really drop again right now. temperatures only at 22. no melting at all on the road there. the windchill feels a little bit colder. got people in their cars. people without gas.
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the biggest thing they are working on is to get everybody home. tomorrow we will see warming up into the 40s. cheryl: thank you very much. one big money managers sharing his picks. dennis: the dow down. hollywood overseas addiction. how it could change moviemaking as we know it. that is coming up. ♪
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markets now stocks are deep in the red. we have some picks in this uncertain market. taken the dog house, getting hit on earnings years but the s&p, some bright spots in the sector, he is going to be here and going flat, americans may be losing their taste for beer. we will tell you what they are drinking more of coming debt. stocks every 15 minutes. let's go to the floor of the stock exchange with nicole petallides, rough day for the markets, the sell-off continues. nicole: we are seeing some accelerated selling, the fear index to the upside, look at rent-a-center, looking at names on the move this week. here's a look at rent-a-center. one week chart shows you yesterday's big drop and rent a center came out with quarterly numbers that were disappointments. you rent furniture to own and
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for the week, down 20%, said today's move, 50% low, you see it moving a little bit higher today so obviously a tough week for rent a center. stake in look at petroleum, up nice and big, 8736, a gain of 5% as marathon came out with their numbers easily beat the street expectations and a couple other names, yahoo! melissa meyer had a great deal for the stock, 90% last 52 weeks conlan and ali baba revenue growth potential as well but we are watching that to the down side and hit a new low-end ibm is one name that is a winner on the lid dow jones industrial average. cheryl: see you in a little bit as we monitor the market but let's start stock radar, fox business radar with $6 billion in assets under management,
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chief investment officer is here. let's show viewers what is happening with the dow jones industrials, pushing a session low and i want to get your thoughts on emerging markets, activity earning, what do you make of the sell-off? >> thank you for having us on. azov is a transition if you will from this tremendous or extraordinary measure of monetary easing, q e, operations twist, and transition from there into a broadening more economic growth driven market, we started to see that last spring when the first hints of tapering became evident, the bond market sold off, a couple instances where the equity markets did also and typically what happens, you point out emerging-market, typically when interest rates rise in the united states that generally has a negative effect
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on emerging-market and currencies there. cheryl: that is what we are seeing today. i want your thoughts on the market, this is the last week, showing my view is as you can see the pressure on the markets. i want to get your kicks because you have some interesting picks and i want to start with microsoft because microsoft is one of those companies that gets the dividend, get a strong performance but if you look over the last year or so certainly stock is higher but there are concerns microsoft doesn't have a good growth strategy in place for 2014, and the management issues. what do you say for microsoft and why is it your pick? >> microsoft has gone through a lot of changes, very positive changes as you know. a lot of our thinking in terms of 2014 is we are looking at companies with strong fundamentals, priced very well on the market and are not heavily influenced by financial
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leverage. microsoft is one of those. -to cdebt fozto cap is under 14. x box one, lunch is favorable so in terms of innovation they have been investing in their own businesses, x box 1 was successful and well positioned. secondly the other theme, to make one more point, the other theme underlying our picks is replacement cycle going on, for a lot of years companies have been underinvested in plant equipment, technology, we see microsoft well-positioned in terms of spending, cloud storage space going forward. cheryl: we will call this the speed round. your last two picks, we got to
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move quicker. you like cummings, stock is up over last year. we are talking engines, power. why do you like it? >> replacement cycle, innovative company, low debt to cap, demand for efficient deal engines, emerging markets beyond the current volatility. is well-positioned and very attractively priced going forward, trading at a discount to the market. cheryl: we are out of time but we will get more picks another day. thank you. >> thank you. dennis: the u.s. is a fading star in hollywood. we now know in 2013 all top grossing films made more money overseas than at home. number one film disney marvel's iron man iii, two thirds of it all overseas, and universal's
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despicable me ii and 70% for the hobbit and for the sixth fast and furious film, 70%, let's cut to the chase. expect more movies with cross border, ronny superheros, sci-fi epic and international cap. gas pump digital buzz, new numbers from spotify goose of the grammys, a gas pump search 200% sunday to monday after its win and up 600% for one song, another star the dow could perform with stevie wonder. beyonce benefited from her steamy opener and 150% jump for a song on the grammys by the band chicago and robyn effect. does anyone know what time it is? that song came out 45 years ago. cheryl: a group of san franciscans are taking the addiction added to the first step is admitting you have a problem to heart in a big way.
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the mayor rob ford may want to listen to this story. dennis: mixed signals from tech's biggest names leaving the street with a lot of doubt. is in capital iq scott kessler will be here with his take. [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the tradfloor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being get live squawks right in your trading platform with think or swim from td ameritrade. get live squawks right in your trading platform hi, are we still on for tomorrow? tomorrow. quick look at the weather. nice day, beautiful tomorrow.
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tracy: tracy byrnes with your fox business brief. the opt change its name to fiat chrysler automobiles. sergio marchionne, ceo of the automakers say the new logo is designed to break with tradition. it will trade on the stock exchange as early as october. boeing fourth quarter earnings beat expectations that shares are down on the aerospace giant's disappointing four year forecast. boeing says its expects to deliver 715 commercial aircraft in 2014. that the last year after record of 648. attorney general eric holder confirming the justice department is investigating the massive target data breach, the doj is committed not only to finding the perpetrators but anyone exploiting the stolen data and credit-card fraud. that is the latest from the fox business network giving you the power to prosper. [ car alarm chirps ] ♪ [ male announcer ] we don't just certify
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dennis: some of the biggest names in tech giving mixed signals to investors and shares are taking hits. is in the capital iq scott kessler joins us now. is more about individual stocks and not tech on the hole. why is that? >> it is important to understand from the get go that a lot of folks, universally bullish for the technology sector. without specifying when names are what areas we think that is frankly a little dangerous. technology sector has not outperform the s&p 500 since 2009, i was reading a major publication at the end of last year, ten strategist highlighted and all of them named technology the top sector, market weighed on the sector, we see some opportunities related to economic expansion and evaluation, but the fundamentals are someone challenged related to the exposure to pcs and pricing competition and we
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wonder about the use of cash as well. dennis: and pocono more many, market weight. >> when you think about the technology sector as a percentage of the s&p, 18% to 19% of the s&p 500 so we don't think people should allocate of their portfolios than dennis: of all the sectors head-on high, we know that tech is the industry and lost productivity for businesses and individuals, why not put more money into a tech on the bet that it will go up? >> the reason for that are multifaceted. the most obvious reason is the fact that we think others believe that the fundamentals are a lot better than the technology sector than they really are. look at the pc related areas and they are still struggling. with the areas like smart phones and tablets, lot of growth of
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their but a lot of pricing competition. think of software, doing so in different ways. and last but not least look at i t services, there's a tremendous amount of price patrician. what i am saying is a lot of problem pockets across the area, focusing on a bottoms up approach, look at the companies, the stocks more specifically. dennis: this from a guy at s&p makes it easy to invest in hundreds of tech stocks, s&p baskets tethered to check the overall. the fact that there is volatility in the divergent fortune makes it riskier to pick an individual tech stock. you need some courage and activists coming in and carl icahn. do you sink that could be good for tech stock values? don't know why we pay so much attention to carl icahn, he only
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at those 1%. the mouse that roared. >> absolutely when you think about investing in technology sector, we offer edf related research and frankly you look at a variety of ways to think about that. you can look at the? queue, the nasdaq 100, that is only 60% of technology and the x l k which is the tech sector spider but that is only 85% to 90% exposure, the vanguard product is 100% exposure so why do we focus on carl icahn? people will look at what he and others are saying as indications about things that could go on at those companies and think about what is going on and apple and the tremendous value people see could it be finally unlocked by someone of his stature? what about ebay? another company he has been getting increasingly involved in. the reason people pay attention
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to him is his track record and possibility to impact decisions and prices. dennis: some value will go up from here. thanks for being with us today. cheryl: gold and silver are pushing higher today as stocks remained under pressure with the dow down 132. let's head to the trading pits of the cme and phil flynn for the other side of the story which is gold and silver. phil: gold and silver are reacting to emerging-market turmoil. surprisingly turkey jumped up interest rates by four basis points and the market fell but as the turkish lira started the tank again people started to buy gold. on top of that in turkey, there was only talk about gold smuggling scandal. a lot of people at emerging-market strong gold and silver for safety. in the oil market we have the oil inventory report, we saw a much stronger demand for heating
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oil and gasoline and we see that right now all holding up the market after a big bold. back to you. cheryl: a lot going on in the pits. thank you, phil. time for your west coast and in it. in southern california of multimillion-dollar border surveillance drone was intentionally thrown into the pacific ocean. $20 billion unmanned aircraft use to track bodes in mexico, mechanical failure, officials realized it was impossible to get the aircraft back to land safely. a limited editions seattle makes an honor of seahawks running back a big supporter. skills rain down on century link, scores a touchdown when he is at home. the company will donate to east
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in sunday's -- in san francisco. and the drug using population. cut down on the hiv transmission rates. for the officials disagree, and against state and federal law and drug paraphernalia and that is the west coast minute. dennis: call him bill lord of the car chases, michael flatley, lord of the dancing fighting back dancing away with the big-ticket item from the irish star.
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dennis: thieves stole a rhino horn worth $250,000 from the safari room of michael flatly's
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giant irish mansion. he was playing video games with his wife and son when the hole was invaded and he reportedly heard the intruder, triggered an alarm and tried to chase the thief's car. officials suspect this was part of a local gang that targets museums and galleries for rhino horns which are worth $75,000 a pound on the black market. if you want to know why, look it up. a complete mess in atlanta, kids forced to stay at school. coming up, steve holman on how all played out at tonight's nba game against the detroit pistons is postponed. cheryl: despite the efforts of central bank things are not that neat and orderly in turkey and that is part of what is driving for a sell-off. we are an hour away from hearing from the fed. stay with fox business. a lot of news breaking this afternoon. afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it earned, usaa auto insurance
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cheryl: turkey shocked the markets but everyone else is in awe. i am lori rothman. adam: i am adam shapiro. the dow down biggest turkish central bank's rate hike failed to calm nervous investors. lori: the focus turns to the federal reserve. we're one hour until the decision which will be chairman ben bernanke's last. will be full taper ahead for ben bernanke and company? adam: frozen in time, atlanta paralyzed after a winter storm dumped a few inches of snow. commuters are stuck in talks after waiting in traffic for hours. students spent the night at school. it is just an absolute mess. lori: atlanta hawks steve homan joins us with how it played out in the city at tonight's nba game against the detroit pistons. so much for the relief rally did started the day on wall street. let's head to the stock exchange and check in with nicole petallides but the emerging market fading


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